- Multimillion-dollar donations have poured into higher education recently.
- In 2018, Johns Hopkins University received what is believed to be the largest donation to a college: $1.8 billion.
- Historically Black college and university (HBCU) Spelman College received the largest donation in HBCU history of $100 million for its 100th naming anniversary.
- Johns Hopkins University received its second billion-dollar donation from Bloomberg Philanthropies for graduate student aid.
Higher education is no stranger to donations from alums, philanthropists, and billionaires hoping to advance an institution they believe will improve the lives of students — and change the world.
In a trend of rising costs and lower enrollment, multimillion-dollar donations can give colleges the boost to not only survive but thrive. It's common to see donations from longtime supporters, members of their college's community, and anonymous donors who prefer to withhold their identities.
Colleges have also been using large donations to expand student financial aid, with some universities like Duke University and the Albert Einstein College of Medicine using their gifts to give students free tuition.
Johns Hopkins University is using its second billion-dollar donation from Bloomberg Philanthropies, created by alum Michael Bloomberg, to cover tuition for most medical students. The school will also use the donation to cover living expenses for students from families making under $175,000.
Bloomberg Philanthropies has cemented itself as one of the largest contributors to higher education, taking the first and fifth spot for highest known donations. The organization just invested $600 million into historically Black medical schools (HBMS), which are responsible for graduating 15% of all Black male medical students nationwide.
Recently, historically Black colleges and universities (HBCUs) have received hundreds of millions for endowments, scholarships, and university needs. HBCUs are 1890 Land-Grant institutions entitled to the same state funding as their predominantly-white counterparts. However, they've been underfunded since they began, leaving private organizations and donors to boost endowments.
Here are some of the biggest donations made to colleges and universities for research, business, scholarships, and even stem cells in space. Then, explore some of the biggest donations of all time to higher education.
Jump to the top 14 biggest college donations in U.S. history.
Recent Notable Donations to Colleges and Universities
Salem State University: $10 Million
Date: September 3, 2024
Donor: Anonymous
An anonymous donor helped establish the Clipper Scholarship for health care and education students who did not qualify for the Pell Grant. The scholarship helps cover about $11,000 in unmet need and is impacting students this semester.
"With our long history of preparing front-line workers who go on to serve the Commonwealth in healthcare, education and public service-related fields, a gift of this magnitude will help us maximize student potential by lessening their financial burden and helping them graduate on time," said Sami Ansari, dean of Salem State's Maguire Meservey College of Health and Human Services.
"I am grateful that the university will be able to provide more opportunities to our accomplished students who will one day contribute to the well-being of the public."
University of California Los Angeles: $120 Million
Date: August 27, 2024
Donors: Gary and Ayla Michelson
Dr. Gary Michelson, a surgeon, inventor, and philanthropist, and his wife Ayla Michelson donated to kickstart the California Institute for Immunology and Immunotherapy hosted in the abandoned mall-turned research park.
The gift designates $50 million to rapid vaccine development, $50 million to utilizing the microbiome towards human health, and $20 towards grants to advance immunology and vaccine research.
"Immunology is the mediator of nearly all human diseases, whether we're talking about cancer or heart disease or Alzheimer's," Michelson said in the press release. "The vision for this institute is to become a 'field of dreams' — the world's leading center for the study of the immune system to develop advanced immunotherapies to prevent, treat and cure all of the diseases that afflict people today and to end these diseases in our lifetime."
Columbia University's Medical School: $400 Million
Date: August 22, 2024
Donors: Roy and Diana Vagelos
Roy and Diana Vagelos donated the historic gift to fund the medical school's Roy and Diana Vagelos Institute for Basic Biomedical Science. The gift will also expand infrastructure, support research, and open a new building. The new 55,000+ square foot biomedical research building will be named the Vagelos Innovation Laboratories after the donors.
This is their second recent gift to Columbia after a March 2023 donation, which created the Vagelos Institute for Biomedical Research Education.
"The legacy of Roy and Diana Vagelos at Columbia University and in the world of philanthropic support for biomedical research and education was already well established before the announcement of this historic gift," Columbia wrote. "They are unique benefactors guided by laudable values that became guiding principles for our school.
"Their sustained commitment to education, scientific research, and human health, in general—and to Columbia, in particular—is simply unmatched."
Catawba College: $200 Million
Date: August 12, 2024
Donor: Anonymous
Catawba College, a small private liberal arts college in North Carolina, received its second $200 million gift in three years from an anonymous donor. The carbon-neutral college will use the gift to build its endowment, a new community space from an old coal power plant, and a new dorm.
"Catawba College is dedicated to providing students a liberal arts education rich with opportunities to explore the world and to learn to care for it," Catawba College President David P. Nelson said. "This significant gift helps reinforce that commitment for generations to come and enables us to take bold steps now toward a cleaner future."
Texas Woman's University: $30 Million
Date: August 8, 2024
Donor: Merrilee Kick
Merrilee Kick, Texas Woman's University alum, and founder and CEO of alcoholic beverage company BuzzBallz donated a historic $30 million to the college of business. The donation will fund an innovation and entrepreneurship institute, an endowed chair, a new building, and an entrepreneur-in-residence program where an entrepreneur can provide in-house expertise. Each program and the college of business will be named after Kick.
"My MBA from TWU enabled me to write a solid business plan for what became BuzzBallz, a billion-dollar company," Kick said in the press release.
"As a former educator and child of educators, teaching the next generation is important for our future. As my parents said, 'A good teacher makes a difference.' I have had some good teachers — and parents — who really cared about me and my success, and I am committed to make that happen for others, to make the world a better place."
Howard University College of Medicine, Meharry Medical College, and Morehouse School of Medicine: $175 Million
Date: August 6, 2024
Donor: Bloomberg Philanthropies
Bloomberg Philanthropies, created by former New York City mayor, and businessman Michael Bloomberg, donated a historic $175 million each to the three HBMSs to grow their endowments. The donation is part of the organization's initiative to "accelerate the pace of Black wealth accumulation and address systemic underinvestment in Black communities."
Bloomberg surpassed his last donations to these three universities in 2020 when he broke the record for the largest donations to HBMS with $100 million to four schools.
"We have much more to do to build a country where every person, regardless of race, has equal access to quality health care – and where students from all backgrounds can pursue their dreams," Bloomberg said in a press release. "Addressing health disparities and underrepresentation in the medical field are critical challenges, and Bloomberg Philanthropies is dedicated to making a difference.
Charles R. Drew University of Medicine and Science: $75 Million
Date: August 6, 2024
Donor: Bloomberg Philanthropies
Bloomberg Philanthropies donated $75 million to the HBMS to grow its endowment. The organization previously gave the school $100 million in 2020 for student financial aid.
"This historic gift is a transformative investment in the future of healthcare, our university, and most importantly, our students, for generations to come," said Dr. David M. Carlisle, President and CEO, Charles R. Drew University of Medicine and Science. "It will significantly enhance our ability to educate and empower diverse healthcare professionals who are committed to serving underserved communities and becoming leaders dedicated to health equity and social justice. We are confident this gift's impacts will be felt in South Los Angeles, California, across the United States, and globally for decades."
William & Mary: $100 Million
Date: July 24, 2024
Donor: Jane Batten
The largest gift in the university's history, given by alum and philanthropist Jane Batten, will establish the Batten School of Coastal & Marine Sciences. The school will focus on attracting marine students and scientists, advancing infrastructure, creating partnerships, establishing new undergraduate and graduate programs, and addressing coastal and marine challenges.
"William & Mary has long been at the vanguard of research tackling urgent local, national and international challenges. No institution is better positioned to address global change," said President Katherine Rowe. "By investing in bold ideas and new partnerships, the Batten School will power 'science for solutions' for Virginia and the world."
Pennsylvania State University: $20 Million
Date: July 19, 2024
Donors: Jeff and Ann Marie Fox
Philanthropists J. Jeffrey and Ann Marie Fox donated $20 million to the university's graduate school — its largest gift ever — for an endowment for scholarships, fellowships, and other financial aid with a focus on military personnel and their families.
The university's board of trustees unanimously voted to rename the graduate school to the J. Jeffrey and Ann Marie Fox Graduate School.
"The Foxes' visionary support speaks both to their tremendous generosity and the perennial importance of graduate-level studies in achieving the most noble aims of higher education: to elevate human knowledge and change our world for the better," Penn State President Neeli Bendapudi said.
"This commitment from Jeff and Ann Marie represents the first college naming gift in Penn State's new campaign, and their leadership stands as an example of what we can achieve through the combined power of philanthropy, education and partnership."
Dartmouth College: $150 Million
Date: March 25, 2024
Donors: Glenn and Barbara Britt
Dartmouth alum and former Time Warner Cable CEO Glenn Britt, who died in 2014, and his wife, Barbara Britt, who died in August, left Dartmouth over $150 million for financial aid for students from middle-income families. Dartmouth's "zero parent contribution" threshold will jump from $65,000 annual family income to $125,000.
"Glenn Britt credited Dartmouth for transforming his life, and he was tremendously grateful for the financial aid award that made his Dartmouth experience possible," President Sian Leah Beilock said in the press release.
"By elevating the family contribution threshold to $125,000, we will not only be saying to them that a Dartmouth education is within reach; we will also be adding to the diversity of backgrounds and viewpoints of our students, an educational plus for everyone on campus."
LaGuardia Community College: $116 Million
Date: March 20, 2024
Donor: The Steven & Alexandra Cohen Foundation
The Steven & Alexandra Cohen Foundation, led by New York Mets owner Alex Cohen, donated the largest-ever gift to the City University of New York system to create a workforce training center focused on:
- Healthcare
- Construction
- Technology
- Culinary and hospitality
- Green jobs
- Film and television
"Alex Cohen is passionate about making quality, affordable workforce training available to low-income New Yorkers who want to learn new skills, get good jobs, and provide for their families," Kenneth Adams, LAGCC president, said in the release.
"We are truly honored that she turned to LaGuardia to bring her vision to life through the creation of the Cohen Career Collective."
Top 14 Biggest Donations to Colleges and Universities
Stony Brook University: $500 Million
Date: June 1, 2023
Donor:The Simons Foundation
The Simons Foundation, founded by Marilyn and Jim Simons, gave the unrestricted gift for the university to use wherever it sees fit. The university said it plans to use the funding for scholarships, endowed professorships, research, and clinical care.
The foundation's gift will also help give those from underserved communities the opportunity to reach their full potential. We look forward to seeing this institution continue to thrive."
New York City also recently selected the university to be the anchor institution for the New York Climate Exchange, a climate research hub and campus on the city's Governors Island.
"As a Stony Brook graduate, I know firsthand the role that a quality education plays in the trajectory of one's life," said Marilyn Simons. "I am proud of the education I received there. Jim and I want to ensure that Stony Brook continues to serve its students with the highest level of educational excellence and with world-class resources.
Oregon Health and Science University: $500 Million
Date: June 24, 2015
Donors: Phil and Penny Knight
The Nike co-founder and his wife pledged $500 million as part of a $1 billion fundraising challenge to support early detection of lethal cancers. The university used the total $1 billion to build a new research facility and cancer care clinics for expanded clinical trials.
"Penny and I have total confidence in Brian Druker and the entire OHSU Knight Cancer Institute team to put a stop to a disease that touches each of our lives," said Phil Knight.
"We are more convinced than ever that cancer will meet its match at OHSU, and we are proud to play a role in this history in the making."
University of Oregon, Twice: $500 Million
Date: July 6, 2021 and Oct. 18, 2016
Donors: Phil and Penny Knight
The Nike co-founder and his wife first donated $500 million to the university in 2016, which created the Phil and Penny Knight Campus for Accelerating Scientific Impact. The building, completed in 2020, was able to expand after the second gift by creating more faculty positions and a second building.
"There is no greater vote of confidence in our success than the Knights' decision to double their investment in the Knight Campus. This gift will help provide opportunities for students, faculty, the university, and our state to reach new levels of discovery, innovation, and collaboration," the university wrote in a 2021 statement.
"Please join us in thanking the Knights and the scores of individuals who helped make this University of Oregon's moonshot of a dream into a stunning reality."
Harvard University: $500 Million
Date: December 7, 2021
Donors: Mark Zuckerberg and Priscilla Chan
The donation, spread over 15 years, went to create an institute for artificial intelligence and neuroscience named after Zuckerberg's mother. The donation created 10 new faculty positions, new computing infrastructure, and more student resources at all levels.
"Priscilla Chan and Mark Zuckerberg have demonstrated a remarkable commitment to promoting discovery, innovation, and service at Harvard and other academic institutions around the United States," said President Lawrence S. Bacow.
"From supporting the study of COVID-19 treatments and advancing literacy research, to boosting public service opportunities for undergraduates, they have shown a genuine commitment through their work at the Chan Zuckerberg Initiative and beyond to curing disease, improving lives, and encouraging others to serve."
Western Michigan University: $550 Million
Date: June 8, 2021
Donors: Anonymous
The anonymous alums' donation gave $200 million to the university, $300 million for the medical school, and $50 million for the athletics department. According to the university, the donors' gift reflected their belief in diversity, equity, and inclusion in higher education.
"Like Western, our donors are committed to a future that truly provides opportunity for everyone to advance," said President Edward Montgomery.
"In order to empower our future, we must break down the barriers created by historic inequities. This gift is an important step in leveling the playing field and putting quality education in reach for students from historically underrepresented populations."
California Institute of Technology: $600 Million
Date: October 29, 2001
Donors: Gordon and Betty Moore
Intel co-founder Gordon Moore and his wife, Betty, donated half of the $600 million, and their foundation donated the other half. The funds were set apart for education and science programs at Caltech. The Moores' donation distributed $300 million across five years, while the foundation's was spread across a decade.
"Caltech has a unique ability to do multidisciplinary work — partly because of its size and partly because of its history. It is described as being a national treasure and it certainly is," said Gordon Moore. "The education I received there has served me well. We are hoping this gift will position the institute well as it moves forward."
Columbia University and NewYork-Presbyterian Hospital: $700 Million
Date: November 15, 2017
Donors: Florence and Herbert Irving
Florence Irving and her late husband donated to advance cancer research and clinical care. They donated more than $900 million total to both institutions over three decades. In 2016, the two institutions renamed the shared medical campus, "Columbia University Irving Medical Center" and "NewYork-Presbyterian/Columbia University Irving Medical Center."
"Herbert and I have always been proud to help the terrific doctors at Columbia and NewYork-Presbyterian," said Florence Irving.
"It meant everything to him to be able to support world-class research and caregiving that makes a difference in people's lives. I am honored, as he always was, to be associated with these great institutions and the special people who make them what they are."
California Institute of Technology: $750 Million
Date: September 26, 2019
Donors: Stewart and Lynda Resnick
The donation from the philanthropist couple went to support sustainability research through interdisciplinary work in physical sciences, life sciences, and engineering. The institute also pledged to build a 75,000-square-foot building in their name to serve as a hub for sustainability research and laboratories.
"In order to comprehensively manage the climate crisis, we need breakthrough innovations, the kind that will only be possible through significant investment in university research," said Stewart Resnick. "Science and bold creativity must unite to address the most pressing challenges facing energy, water, and sustainability."
Johns Hopkins University: $1 Billion
Date: July 8, 2024
Donor: Bloomberg Philanthropies
Bloomberg Philanthropies, alum Michael Bloomberg's organization, donated $1 billion towards graduate financial aid, covering tuition entirely and, in some cases, living expenses for about two-thirds of university medical students. The assistance is available to any medical student from a family making less than $300,000, which is about 95% of Americans, according to the university.
The funding will also provide need-based scholarships and fellowships for graduate students in nursing, public health, education, engineering, business, arts and sciences, advanced international studies, and the newly formed School of Government and Policy.
"As the U.S. struggles to recover from a disturbing decline in life expectancy, our country faces a serious shortage of doctors, nurses, and public health professionals — and yet, the high cost of medical, nursing, and graduate school too often bars students from enrolling," Bloomberg said in a statement.
"By reducing the financial barriers to these essential fields, we can free more students to pursue careers they're passionate about — and enable them to serve more of the families and communities who need them the most."
McPherson College: $1 Billion
Date: July 21, 2023
Donor: Anonymous
The small Kansas liberal arts college with 40 programs of study known for its automotive restoration technology degree received a commitment in November from an anonymous donor, which will fund engineering programs, health sciences programs, and student debt relief. The donor matched $2 for every dollar the college raised, up to $500 million.
The donor surprised the college with another $500 million commitment after it completed the challenge at the end of June. The college will receive the donation over time or in full upon the donor's death.
According to McPherson, its over-$1.5 billion endowment is the largest in history for a small liberal arts college.
"Now, the work begins to build a bridge to our future endowment," said President Michael Schneider. "We need to carefully plan how the income from the endowment is deployed to reimagine and construct the campus of the future, build a much-needed rural health pipeline in Kansas, create a center for the future of automotive engineering and work to make college more affordable for all our students. There has never been a better day to be a part of the McPherson College community!"
Albert Einstein College of Medicine: $1 Billion
Date: February, 26, 2024
Donor: Ruth L. Gottesman
Ruth L. Gottesman, chair of the board of trustees at the college and longtime donor donated what seems to be the largest gift ever to a medical school to give all students free tuition starting in August, 2024. All current fourth-year students will receive tuition reimbursem*nt for the spring 2024 semester.
The college and Gottesman hopes removing tuition will increase the diversity of students who would otherwise not be able to afford medical school.
"Each year, well over 100 students enter Albert Einstein College of Medicine in their quest for degrees in medicine and science," Gottesman said. "They leave as superbly trained scientists and compassionate and knowledgeable physicians, with the expertise to find new ways to prevent diseases and provide the finest health care to communities here in the Bronx and all over the world."
Stanford University: $1.1 Billion
Date: May 4, 2022
Donors: John and Ann Doerr
This donation announced in May 2022 created Stanford's first new school in 70 years, the Stanford Doerr School of Sustainability. The school focuses on studies including climate change, sustainable cities, food and water security, and human health and the environment.
"This new school will accelerate scholarship and solutions to pressing challenges facing the earth, climate, and society," John Doerr tweeted. "It is the result of visionary thinking about the role of the university and our shared ambition to make a measurable impact on the climate crisis."
Johns Hopkins University: $1.8 Billion
Date: November 18, 2018
Donors: Michael Bloomberg
Michael Bloomberg donated to permanently increase undergraduate financial aid at the university.
"Denying students entry to a college based on their ability to pay undermines equal opportunity," Bloomberg said. "It perpetuates intergenerational poverty. And it strikes at the heart of the American dream: the idea that every person, from every community, has the chance to rise based on merit."
